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Senior Managers' Turnover: Case of Russian Banks

Student: Kudriashova Aleksandra

Supervisor: Sergey Solntsev

Faculty: Faculty of Economic Sciences

Educational Programme: Applied Economics (Master)

Year of Graduation: 2017

Since the beginning of 2000 Russian companies pays attention to corporate governance issues. This issue affects the interests of the state, the owners of the company, employees and potential investors. In this paper, we study mechanisms of corporate governance in Russian banks and also explore the factors influencing the turnover of senior managers. It takes advantage of a new and unique dataset of 50 largest banks from 2005 to 2014. The results of the analysis revealed a negative influence on the company performance (EBITDA/Tot_Assets and ROE) on the probability of changing a senior manager, as well as the increase in turnover in the crisis year. It is also important to pay attention to the ownership structure of the bank. In foreign banks change happens more often than in domestic. To sum up, we found that the mechanism of corporate governance works correctly and helps to ensure that banks managed by effective managers.

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